|
Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CICEK YAYINCILIK LTD. STI. |
|
|
|
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Registered Office : |
Mescit Mah. Birmes Sanayi Sitesi D 2 Blok 1.Kat No:5-6-7-8 Orhanli
Tuzla |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
22.07.2005 |
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|
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Com. Reg. No.: |
560303 |
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|
|
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Trade of children's books |
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|
|
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Turkey's largely free-market economy is
increasingly driven by its industry and service sectors, although its
traditional agriculture sector still accounts for about 25% of employment. An
aggressive privatization program has reduced state involvement in basic
industry, banking, transport, and communication, and an emerging cadre of
middle-class entrepreneurs is adding dynamism to the economy and expanding
production beyond the traditional textiles and clothing sectors. The
automotive, construction, and electronics industries, are rising in importance
and have surpassed textiles within
|
Source
: CIA |
|
NAME |
: |
CICEK YAYINCILIK LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Mescit Mah. Birmes Sanayi Sitesi D 2 Blok 1.Kat No:5-6-7-8 Orhanli Tuzla
Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-216-394 26 90 |
|
FAX NUMBER |
: |
90-216-394 29 48 |
|
WEB-ADDRESS |
: |
|
|
E-MAIL |
: |
|
TAX OFFICE |
: |
Tuzla |
|
TAX NO |
: |
2530672618 |
|
REGISTRATION NUMBER |
: |
560303 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
22.07.2005 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
28.07.2005/6356 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 300.000 |
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||||
|
REMARKS ON SHAREHOLDERS |
: |
We are informed that the shareholders "Susaeta Ediciones
S.A." and "Codexinver S. L." are foreign companies located in
Spain. |
||||||||
|
SUBSIDIARIES |
: |
None |
||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Trade of children's books. |
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NACE CODE |
: |
G .51.47 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
5 |
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NET SALES |
: |
|
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
U.K. Spain Russia |
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MERCHANDISE IMPORTED |
: |
Children's book |
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|
EXPORT VALUE |
: |
|
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HEAD OFFICE ADDRESS |
: |
Mescit Mah. Birmes Sanayi Sitesi D 2 Blok 1.Kat No:5-6-7-8 Orhanli
Tuzla Istanbul / Turkey |
||||||
|
INVESTMENTS |
: |
None |
|
TREND OF BUSINESS |
: |
There appears a decline at business volume in nominal terms in 1.1 - 30.6.2012. |
|
SIZE OF BUSINESS |
: |
Moderate |
|
MAIN DEALING BANKS |
: |
Garanti Bankasi Hasanpasa Branch |
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CREDIT FACILITIES |
: |
The subject rarely makes use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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|
KEY FINANCIAL ELEMENTS |
: |
|
|
THE DETAILS OF THE CAPITAL INCREASE
AFTER LAST BALANCE SHEET |
: |
Cash Part |
:10.554,21 TL |
|
Equity Part |
:114.445,79 TL |
||
|
Payment Due Date |
:05.12.2014 |
||
|
Number of Days To Pay First Portion of The Cash Part of Capital
Increase |
:90 |
|
Capitalization |
Low As of 31.12.2011 |
|
Liquidity |
Fair As of 31.12.2011 |
|
Remarks On Liquidity |
The favorable gap between average collection and average payable
period has a positive effect on liquidity.
The liquid assets consist mainly of receivables the amount of
cash&banks or marketable securities (which are more liquid) are low. |
|
Profitability |
High Operating Profitability in
2011 Low Net Profitability in 2011 Gross Loss (01.01-30.06.2012) Operating Loss (01.01-30.06.2012) In Order Net Profitability (01.01-30.06.2012) |
|
Gap between average collection and payable periods |
Favorable in 2011 |
|
General Financial Position |
Not in order |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
|
( 01.01-31.10.2012) |
5,36 % |
1,8020 |
2,3241 |
2,8562 |
|
|
( 31.12.2011 ) TL |
|
|
CURRENT ASSETS |
2.095.596 |
1,00 |
|
Not Detailed Current Assets |
0 |
0,00 |
|
Cash and Banks |
24.466 |
0,01 |
|
Marketable Securities |
0 |
0,00 |
|
Account Receivable |
1.218.915 |
0,58 |
|
Other Receivable |
1.005 |
0,00 |
|
Inventories |
816.829 |
0,39 |
|
Advances Given |
631 |
0,00 |
|
Accumulated Construction Expense |
0 |
0,00 |
|
Other Current Assets |
33.750 |
0,02 |
|
NON-CURRENT ASSETS |
2.795 |
0,00 |
|
Not Detailed Non-Current Assets |
0 |
0,00 |
|
Long-term Receivable |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
|
Tangible Fixed Assets (net) |
0 |
0,00 |
|
Intangible Assets |
0 |
0,00 |
|
Deferred Tax Assets |
0 |
0,00 |
|
Other Non-Current Assets |
2.795 |
0,00 |
|
TOTAL ASSETS |
2.098.391 |
1,00 |
|
CURRENT LIABILITIES |
1.785.923 |
0,85 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
|
Financial Loans |
719 |
0,00 |
|
Accounts Payable |
1.732.179 |
0,83 |
|
Loans from Shareholders |
0 |
0,00 |
|
Other Short-term Payable |
0 |
0,00 |
|
Advances from Customers |
35.667 |
0,02 |
|
Accumulated Construction Income |
0 |
0,00 |
|
Taxes Payable |
17.358 |
0,01 |
|
Provisions |
0 |
0,00 |
|
Other Current Liabilities |
0 |
0,00 |
|
LONG-TERM LIABILITIES |
0 |
0,00 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
|
Securities Issued |
0 |
0,00 |
|
Long-term Payable |
0 |
0,00 |
|
Loans from Shareholders |
0 |
0,00 |
|
Other Long-term Liabilities |
0 |
0,00 |
|
Provisions |
0 |
0,00 |
|
STOCKHOLDERS' EQUITY |
312.468 |
0,15 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
175.000 |
0,08 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation Adjustment of Capital |
0 |
0,00 |
|
Equity of Consolidated Firms |
0 |
0,00 |
|
Reserves |
131.790 |
0,06 |
|
Revaluation Fund |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
|
Net Profit (loss) |
5.678 |
0,00 |
|
TOTAL LIABILITIES AND EQUITY |
2.098.391 |
1,00 |
|
REMARKS ON FINANCIAL STATEMENT |
: |
At the financial statements according to TAS, "Cheques
Received" and "Outstanding Cheques" figures are under
"Cash And Banks" figure. Beginning from the financial statements of
31.12.2011, "Cheques Received" and "Outstanding Cheques"
figures are given under "Account Receivable" figure and
"Account Payable" figure respectively. At the last income statement TL 205.018 of the other income is due to
"Profit from Foreign Currency Exchange". At the last income statement TL 14.692 of the other expenses is due to
"Loss from Foreign Currency Exchange" .
|
|
|
(2011) TL |
|
(01.01-30.06.2012)
TL |
|
|
Net Sales |
1.147.161 |
1,00 |
422.681 |
1,00 |
|
Cost of Goods Sold |
563.929 |
0,49 |
468.959 |
1,11 |
|
Gross Profit |
583.232 |
0,51 |
-46.278 |
-0,11 |
|
Operating Expenses |
363.654 |
0,32 |
129.458 |
0,31 |
|
Operating Profit |
219.578 |
0,19 |
-175.736 |
-0,42 |
|
Other Income |
39.187 |
0,03 |
205.059 |
0,49 |
|
Other Expenses |
247.048 |
0,22 |
14.692 |
0,03 |
|
Financial Expenses |
0 |
0,00 |
0 |
0,00 |
|
Minority Interests |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) Before Tax |
11.717 |
0,01 |
14.631 |
0,03 |
|
Tax Payable |
6.039 |
0,01 |
0 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
5.678 |
0,00 |
14.631 |
0,03 |
|
|
(2011) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
1,17 |
|
Acid-Test Ratio |
0,70 |
|
Cash Ratio |
0,01 |
|
ASSET STRUCTURE RATIOS |
|
|
Inventory/Total Assets |
0,39 |
|
Short-term Receivable/Total Assets |
0,58 |
|
Tangible Assets/Total Assets |
0,00 |
|
TURNOVER RATIOS |
|
|
Inventory Turnover |
0,69 |
|
Stockholders' Equity Turnover |
3,67 |
|
Asset Turnover |
0,55 |
|
FINANCIAL STRUCTURE |
|
|
Stockholders' Equity/Total Assets |
0,15 |
|
Current Liabilities/Total Assets |
0,85 |
|
Financial Leverage |
0,85 |
|
Gearing Percentage |
5,72 |
|
PROFITABILITY RATIOS |
|
|
Net Profit/Stockholders' Eq. |
0,02 |
|
Operating Profit Margin |
0,19 |
|
Net Profit Margin |
0,00 |
|
Interest Cover |
|
|
COLLECTION-PAYMENT |
|
|
Average Collection Period (days) |
382,52 |
|
Average Payable Period (days) |
1105,79 |
|
WORKING CAPITAL |
309673,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
|
1 |
Rs.86.96 |
|
Euro |
1 |
Rs.69.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.